This paper argues that the notion of focal points is important in understanding bargaining processes. Recent literature … confines a discussion of the usefulness of the notion to coordination problems and when bargaining experiments result in … equal split division and it re-interprets recent experimental evidence in bargaining games. Experimental economists should …

bargaining frontier. However, when players have different time preferences, intertemporal trade may lead to continuation payoffs … above the bargaining frontier. We provide a thorough study of this problem without imposing the conventional assumption. Our …

The bargaining model with stochastic order of proposing players is properly embedded in continuous time and it is … the Nash bargaining solution of a modified bargaining problem and the Maximum Theorem implies convergence to the Nash … bargaining solution when time between proposals vanishes. The model unifies alternating offers, one-sided offers and random …

The Nash bargaining solution of a modified bargaining problem in the contract space yields the pair of stationary … vanishes, convergence to the Nash bargaining solution is immediate by the Maximum Theorem. Numerical implementation in standard …

We study a bargaining model with a disagreement game between offers and counteroffers. In order to characterize the set …

We analyze the simplest Condorcet cycle with three players and three alternatives within a strategic bargaining model …

People's desire for fair transactions can play an important role in negotiations, organizations, and markets. In this … paper, we show that markets can also shape what people consider to be a fair transaction. We propose a simple and generally …

effect of contracts on bargaining threatpoints. We compare situations in which an initial contract is renegotiated to … strategically equivalent bargaining situations in which no ex ante contract was written. The ex ante contract causes sellers to ask … for markups that are 45 percent lower than in strategically equivalent bargaining situations without an initial contract …